Progressive and Farmers are two major carriers to consider when you’re shopping for a new car insurance policy. Ranked No. 3 and No. 6, respectively, among the largest auto insurance companies, both offer policies with many coverage options at competitive rates. Keep reading to compare these popular companies and learn about their coverage options, pricing, discounts, and more.
Check out our Progressive Car Insurance Review and Farmers Car Insurance Review for more information about these companies.
Progressive and Farmers offer standard car insurance coverage such as:
Check out our article on common types of auto insurance to learn more about basic coverage.
Additional coverage from Progressive and Farmers may be available as add-ons to enhance basic coverage in some states.
Progressive has an accident forgiveness perk designed to ensure your rates won’t rise following an accident. The company also offers guaranteed asset protection, commonly known as GAP insurance. This product covers the difference between your car’s value and what you owe on your car lease or loan.
Farmers offers a type of coverage for replacing customized equipment in your vehicle. This product is popular with drivers who have modified their cars with high-end stereo systems or upgraded wheels.
Each person’s premium is unique because there are many factors that influence the overall insurance cost. Companies consider customers’ driving record, age, gender, geographic location, vehicle type, and creditworthiness. The average annual miles you drive also gets factored in.
A popular feature is the “name your price” tool from Progressive. You indicate how much you want to pay, and the company provides available options for coverage within your price range.
Cost tops the list of considerations for most insurance shoppers. However, it should not be the only factor when looking for a policy. This table compares average annual premiums between Progressive and Farmers by age tier.
| Age Group | Progressive | Farmers |
| Teens | $8,248 | $6,518 |
| 20s | $2,287 | $2,020 |
| 30s | $1,646 | $2,020 |
| 40s | $1,644 | $1,511 |
| 50s | $1,542 | $1,507 |
| 60s | $1,403 | $1,402 |
Source: The Zebra
Carriers typically discount customers’ premiums by bundling auto insurance with home, renters, boat, motorcycle, or another insurance policy. Most insurers encourage customers to take advantage of the discount, but be sure to ask about multi-policy and multi-vehicle bundling options through Progressive and Farmers.
Policyholders may be eligible for auto insurance discounts and perks from such as:
Other discounts may be available to eligible customers. For example, Farmers provides a break for driving a car with the latest safety tech and for alternative-fuel vehicles.
When shopping for car insurance, be sure to consider more than the expense. Some drivers believe that you get what you pay for, and that higher prices equate to better service. Regardless of the cost, your insurance company should provide good customer service, quickly respond when you need help, and pay submitted claims.
Insurance companies often receive mixed reviews for their service. A J.D. Power 2021 U.S. Auto Claims Satisfaction Study ranked Farmers near the top of the pack with an above-average rating of 893 in overall claims satisfaction in 2021. Progressive received a satisfaction index rating of 862, which was below the industry average of 880.
A.M. Best assesses insurance companies’ ability to meet their ongoing policy and contractual obligations. Progressive’s rating is “superior,” and Farmers has an “excellent” rating.
While the company ratings are slightly different, both carriers have the financial strength to cover their customers’ claims.
Deciding on the best car insurance company for you is a personal matter. Every driver has unique needs, and the decision requires many considerations. You should request a quote from Progressive, Farmers, and other insurance companies to get the exact cost of a policy that provides the coverage you need.
Both Farmers and Progressive offer standard coverage that likely will suit your situation. Progressive offers lower rates for many potential policyholders. However, Farmers’ customer satisfaction with claims ranks higher among the major insurers.
The cost of insurance is the primary concern for many drivers, but there are many factors you should examine. Above all, make sure you feel comfortable that the coverage meets all your needs before signing a policy when buying a new vehicle or renewing your existing coverage.
